Skip to main content

N.J. Gov. Christie Unhappily Signs Superstorm Sandy Relief Bill

Feb 13, 2017
New Jersey Gov. Chris Christie has signed legislation that provides foreclosure protection to residents that suffered property damage during 2012’s Superstorm Sandy, but he affixed his signature with a severe warning of the new law’s consequence

New Jersey Gov. Chris Christie has signed legislation that provides foreclosure protection to residents that suffered property damage during 2012’s Superstorm Sandy, but he affixed his signature with a severe warning of the new law’s consequence.
 
The new law allows homeowners who are in the Rehabilitation, Elevation and Mitigation program and its sister program for low- and moderate-income homeowners to petition the state Department of Community Affairs for a reprieve from foreclosure actions until as late as July 2019. According to an Asbury Park Press report, Christie released a two-page statement after Friday’s bill signing, in which he denounced the legislation as "a transparent, useless political exercise by candidates for re-election falsely pandering to victimized voters." He then added: "I have chosen to sign it to give Sandy victims the morsels of relief this vanity exercise of a bill offers. I will use my executive authority to attempt to repair the mountains of damage this could cause to our federal funding flow and our state housing market."
 
Christie, who is in his final year as governor, vetoed an earlier version of the bill and allowed this legislation to sit on his desk since Dec. 19 before signing it. In his signing statement, he also took aim at his rivals in the New Jersey state government.
 
"It is selfish of the legislature to use its authority to play on the emotions of Sandy victims with the empty promises of this bill,” he said. “As we have done for the last four-and-a-half years, the executive branch will use our authority to provide real solutions based on facts, not emotion or political grandstanding."
About the author
Published
Feb 13, 2017
Co-Founder Mat Grella Terminated From NEXA After Buyout Disagreement

NEXA CEO Kortas states negotiations regarding the buyout will continue.

Mar 27, 2024
Comings And Goings At AmeriHome

Chief Operating Officer John Hedlund announced his retirement on Thursday in a LinkedIn post.

Mar 22, 2024
Rocket's Tim Birkmeier To Retire

Birkmeier is bidding farewell after a 28-year career at Rocket Companies.

Mar 21, 2024
How NAR’s Settlement Impacts Homebuying

While the settlement's silver lining is that homes are expected to become more affordable, many uncertainties loom over the housing market.

Mar 19, 2024
NAR Reaches $418 Million Settlement

The association agreed to give home sellers the option of compensating agents.

Mar 15, 2024
U.S. Non-Bank Mortgage Lenders Surge Amid Industry Consolidation, Fitch Ratings Reports

As smaller players exit the market, scaled originators like UWM and PennyMac Financial dominate, but challenges persist with low origination volume and pressured margins amidst rising interest rates.

Mar 14, 2024